60 million euros for IDnow

The money comes from funds managed by Blackrock. IDnow wants to expand further with the new financing - acquisitions are also planned.

IDnow was able to secure loan financing from Blackrock. This will provide up to 60 million euros in financing. IDnow intends to use the capital to introduce new solutions for identity verification and to expand further. It will also be used to finance potential acquisitions. The funding follows a successful financial year to date. In the first quarter, IDnow's revenue increased 134 percent compared to 2021. In addition, 95 percent more orders were received than in the previous year, the company said.

Armin Bauer, Dennis von Ferenczy, Felix Haas and Sebastian Baerhold founded IDnow in 2014, and the startup offers various identity verification processes on its platform. This allows companies to identify their customers and enable them to conclude contracts online. According to its own information, IDnow serves more than 900 corporate customers in 195 countries. The startup's customers include Solarisbank, N26 and Telefónica, for example.

"We are proud to have raised funding that supports IDnow's business goals and enables further company growth," says Andreas Bodczek, CEO of IDnow.